Bitcoins NO More Fun
A clear bubble bursting. Technically and fundamentally. Parabolic rise in price that has no significant fundamental trigger. It will leave many behind mourning. We might see(if stuck longs are lucky) another small push to the upside, then a new collapse. The big boys has made millions and left many behind.
A rise that is initially not supported or backed by any rational fundamentals. Some people believe it is justified because of the continued adoption of bitcoins. Yeah i agree there is more and more adoption, yet does that justify 2800$ at this particular time? given that this is not a formal monetary system yet? I don't pretend to have vast knowledge of bitcoins fundamentals, i have only the basic understanding of what its is. Yet common sense is enough.
I have always said that there will be no real value for bitcoin until it proves it self on monetary systems, and force governments to back it.
A monster shooting star candle after a parabolic move.
I see btcusd back to 1000$ in the short term. Then probably lower.
A rise that is initially not supported or backed by any rational fundamentals. Some people believe it is justified because of the continued adoption of bitcoins. Yeah i agree there is more and more adoption, yet does that justify 2800$ at this particular time? given that this is not a formal monetary system yet? I don't pretend to have vast knowledge of bitcoins fundamentals, i have only the basic understanding of what its is. Yet common sense is enough.
I have always said that there will be no real value for bitcoin until it proves it self on monetary systems, and force governments to back it.
A monster shooting star candle after a parabolic move.
I see btcusd back to 1000$ in the short term. Then probably lower.
Note
It is hard to understand why SOME ppl invested in bitcoin take it personal lol. Come on, this is just a forecast nothing personal , be pros.Pretending that my first bitcoin forecast when it was near 600 was a failure is nonsense :). The zero you saw on the chart on my first prediction was just to grab attention. My forecast was to 50$(it is written in the description, but you don't even read because you are extremely biased). It was $565 when i forecasted, and it went to $150. which is a satisfying prediction for me. more than 80 percent of my targeted price ;).
This time, i see 1000$ nothing goes up and don't come down.
I wish the best actually for Bitcoin industry. Actually, i am willing to invest in it at a better price.
Note: a good forecast or a bad forecast is not a big deal, it is just a forecast. If i am wrong i would lose some money, and if i am right i would make some money. It is as simple as that. No need to be to emotional, i am not attacking you. I have Learnt in life to learn to accept other peoples opinion and actually consider it, whether i agree to it or not. Otherwise, i will remain IGNORANT FOR THE REST OF MY LIFE.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.